Why does a trust preparer need information about people who received no money?
Why Schedule 15 Needs More Than Payment Details. Understand the Canadian tax rules, records to gather and practical next steps before preparing your return.
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Trust and estate reporting: 10 T3 questions · Browse the 100-article collection
The direct answer
When Schedule 15 is required, the reporting can cover trustees, settlors, beneficiaries and controlling persons, rather than only people who received distributions. Names, addresses, dates of birth where relevant, residence and tax identifiers may be required. The trust type, tax year and applicable exceptions must be checked first. A zero distribution is not itself a reason to omit a reportable person.
Start with the trust documents
Identify the trustees, settlors, beneficiaries and anyone else whose role may be reportable under the applicable rules. A payment ledger alone cannot establish that list. Read the trust deed and amendments, and explain changes during the year. The preparer first needs to determine whether the trust and tax year require the reporting before requesting the relevant details.
Collect sensitive information securely
Use the agreed secure method for identification information rather than placing it in an ordinary inquiry email. Keep a record of what was requested, received and still missing. Do not assume that a beneficiary who received nothing can be omitted without review. The reporting scope can extend beyond the people shown on distribution slips.
What to gather before the review
- Trust deed, amendments and role descriptions
- Current information for potentially reportable people
- Prior filings and relevant changes during the year
Does a zero distribution remove a beneficiary from consideration?
No. Reporting can concern a person's role in the trust rather than only payments received. Confirm the applicable requirements and exceptions before deciding who must be included.
Your next step
Create a current list from the trust documents and use the agreed secure method for sensitive details.
Related reading
Official sources
Getting ready to file - Filing a trust’s T3 return · Enhanced reporting rules for trusts and bare trusts: Frequently asked questions
Sources checked for this collection on October 28–29, 2026. Annual forms may refer to a specific tax year. Use the rules and limits for the year being filed. General information; eligibility, elections and deadlines depend on the facts. No deduction or tax saving is guaranteed.
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